Trump threatens India with steeper tariffs over Russian oil trade; Delhi calls it unjustified, vows to protect economic interests.

U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil.

The president said Wednesday that imports from India would be subject to a 25 percent tariff as of Friday, as trade talks between the countries hit a stumbling block.